Loan
FEMA Rules — What NRI Can Buy
NRI (Indian citizenship) — can buy any residential or commercial property. Cannot buy agricultural land, farmhouse, plantation property. RBI general permission covers all these transactions. No separate approval needed for most purchases.
Payment Rules
All payments through banking channels only — NRE, NRO, or Foreign Currency account. No cash transactions allowed. Travellers cheques acceptable for initial token amount.
Report
TDS Rules for NRI
If SELLER is NRI: Buyer deducts 20-30% TDS on capital gains. File Form 26QB. If BUYER is NRI: No special TDS — pay as resident buyer normally.
Loan
Home Loan for NRI
Indian banks give home loan to NRIs: SBI, HDFC, ICICI, Axis all have NRI products. Max 80% funding. Repayment from NRE/NRO account. Income proof — abroad salary slips required.
Repatriation of Funds
From NRE Account: Full repatriation allowed — principal + interest. From NRO Account: Max USD 1 million per year repatriable. Form 15CA/15CB from CA required. DTAA benefit available for many countries.
Tax on Rental Income
NRI must file India ITR if rental income. TDS deducted at 30% by tenant. Can claim deductions — 30% standard deduction, municipal taxes, home loan interest. Taxed at applicable slab.
POA (Power of Attorney)
Valid and widely used. Must be notarized and apostilled in country of residence. Indian embassy attestation also works. POA holder can register, sign documents on your behalf. Best for remote buying.
Documents Needed
Passport copy, Visa/OCI card, PAN Card (mandatory), NRE/NRO account details, Overseas address proof, Salary slips (last 3-6 months), Bank statement (6 months)
AI
NRI Legal Guidance Chahiye?
AI Advisor FEMA rules, TDS calculation, repatriation — sab free mein guide karega